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Legacy Education Inc. (NYSE American: LGCY) reported strong financial results for Q4 and full year 2024. Revenue grew 34.1% to $12.8 million in Q4 and 29.7% to $46.0 million for the full year. New student starts increased 27.1% in Q4 and 21.8% for the year. The company achieved net income of $1.0 million in Q4 and $5.1 million for the year, with earnings per share of $0.10 and $0.55 respectively. EBITDA for the year was $6.5 million, with adjusted EBITDA of $8.4 million. The student population grew 28.3% to 2,187. CEO LeeAnn Rohmann attributed the growth to strategic initiatives and focus on high-quality education. The company expects continued growth and expansion in 2024.
Legacy Education Inc. (NYSE American: LGCY) has successfully closed its initial public offering (IPO) of 2,875,000 shares of common stock, including the full exercise of the underwriters' over-allotment option. The shares were priced at $4.00 per share, resulting in aggregate gross proceeds of $11.5 million before deducting underwriting discounts and offering expenses.
The company's shares began trading on the NYSE American on September 26, 2024, under the symbol 'LGCY'. Northland Securities, Inc. acted as the sole book-running manager for the offering, while Ladenburg Thalmann served as the lead manager. The Registration Statement on Form S-1 (File No. 333-281586) related to the offering was declared effective by the SEC on September 25, 2024.
Legacy Education Inc. (NYSE American: LGCY) has announced the pricing of its initial public offering (IPO) of 2,500,000 shares of common stock at $4.00 per share, aiming to raise $10 million in gross proceeds. The company has granted underwriters a 30-day option to purchase up to an additional 375,000 shares to cover over-allotments. Trading on the NYSE American is expected to begin on September 26, 2024, under the symbol LGCY. The offering is set to close on September 27, 2024.
Legacy Education plans to use the net proceeds for facility investments, new program development, and general working capital. Northland Securities, Inc. is acting as the sole book-running manager, with Ladenburg Thalmann as lead manager. The IPO is being conducted through a prospectus, with the Registration Statement on Form S-1 declared effective on September 25, 2024.
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